The Debt Recovery Appellate Tribunal dismissed an application for waiver of pre-deposit and consequently rejected the pending appeal due to non-compliance with an earlier order directing a 50% deposit within six weeks.
Application for waiver of pre-deposit dismissed; Appeal AIR (SA) 563/2024 rejected.
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Dated the 19th Day of March, 2025
PRESENT: HON'BLE MR. JUSTICE G. Chandrasekharan
CHAIRPERSON
IA 376/2024 (Waiver)
In
AIR (SA) 563/2024
(Arising out of IA 1029/2024 in SA 5/2021 on the file of DRT - I, Ernakulam)
Between
And
1
Counsel for Appellants : Mr.K.C.Krishnamoorthy Counsel for respondents : Ms.N.Geetha
ORDER
This matter is coming up today for reporting compliance of statutory deposit.
This Tribunal vide its order dated 03.02.2025 directed the petitioners/appellants to deposit 50% of Rs.3,91,51,680/-, within a period of six weeks from 03.02.2025 towards pre-deposit and the said period of six weeks had expired on 17.03.2025and the matter was posted to today for reporting compliance.
When the matter is taken up today, it is reported by the Office as well as by the Ld. Counsel for petitioners that pre-deposit, as ordered by this Tribunal on 03.02.2025 is not complied with.
Under the circumstances, this application IA 376/2024 (Waiver) is dismissed for noncompliance of statutory deposit, resulting in rejection of Appeal AIR (SA) 563/2024, by giving effect to conditional order dated 03.02.2025.
Sd/- [Justice G. Chandrasekharan] CHAIRPERSON
2
1 issue framed by the court
Whether the appeal should be allowed when the statutory pre-deposit ordered by this Tribunal remains uncomplied with by the due date.
Joy Francis
Jancy Joy
Authorised Officer, CSB Bank Ltd.
CSB Bank Ltd.
G. Chandrasekharan
As recorded by the court registry
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